Pensana selects site for processing rare earth
Pensana Rare Earths Plc (LSE:PRE, ASX:PM8) said today that Saltend Chemicals Park in the Humber Local Enterprise
Partnership has been selected as the proposed site to build the UK’s first rare earth processing facility with a view to helping create the world’s first fully sustainable magnet metal supply chain.
The company touted that its processing facility would be one of only two two major producers outside China of rare earth oxides used in the manufacture of powerful permanent magnets. Lynas Corporation of Australia is currently the world’s largest non-China producer of magnet metal rare earth oxides from its facility in Malaysia.
The company is advancing its Longonjo project in Angola to supply the processing facility.
"To give a sense of scale, the Longonjo project could, together with the UK processing facility, produce enough rare earth oxide to supply the wind turbines at Dogger Bank, projected to be the world’s biggest wind farm, for the next 20 years."